New strategies on horizon for exploration companies

Ivan Sandrea Oxford Institute for Energy Studies Oxford, UK Monica Enfield Energy Intelligence Houston The last decade saw total new global O&G resource additions exceed consumption while yet-to-find estimates were revised significantly upwards. New resources totaling 800 billion bbl of oil equivalent were added (1.5 times cumulative consumption), while global yet-to-find resources are now estimated to be close to 4 trillion boe, three times more than 10 years ago), underpinned by the addition of unconventional resources but also resources in the Arctic and deep offshore. New ideas, technological developments, and rising prices strongly supported the expansion of the global opport...

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